Form 4: Stepan Co. Executive Sean Thomas Moriarty Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Sean Thomas Moriarty, VP & GM Surfactants at Stepan Co., reports the withholding of 417 common stock shares to cover tax obligations related to vested performance shares.
Summary
- On March 8, 2024, Sean Thomas Moriarty, VP & GM Surfactants at Stepan Co. (SCL), reported a transaction involving the withholding of 417 shares of common stock.
- The shares were withheld to cover tax obligations related to performance shares that vested on February 15, 2024.
- The price per share for the withholding was $87.53.
- Following the transaction, Moriarty directly owns 11,710.4056 shares of Stepan Co. common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to tax obligations, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of compliance for corporate insiders and provide transparency into their transactions in company stock. This specific filing relates to tax obligations arising from vested performance shares, a common form of executive compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/15/2024 | Performance shares vested. |
| 03/08/2024 | Share withholding transaction date. |
| 03/11/2024 | Date of signature on the Form 4 filing. |
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